RICHARD CORBETT CBE | Brexit Reset | Leader of the European Parliamentary Labour Party, until Brexit

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Join host Justin Hayden Miller, a global trade lawyer, as he interviews Richard Corbett, former Leader of the European Parliamentary Labour Party and CBE recipient, on Brexit and the recent UK-EU Reset Summit. Recorded the morning after the summit on 21 May 2025, Corbett shares his insights on Brexit, its economic consequences, its trade and business impacts as well as the summit's outcomes. Key discussions include:

- Brexit’s Economic & Trade Impacts: Corbett reflects on the 2016 referendum, the flawed Remain campaign, and Brexit’s economic toll, with a 4-5% GDP loss and £40 billion in annual lost tax revenue, as per the OBR.

- UK-EU Reset Summit: The summit addressed trade barriers, security cooperation, and agriculture, but Corbett notes it’s a modest step, not fully resolving customs union and single market challenges.

- Trade Challenges: From red tape to rules of origin, businesses face ongoing hurdles, with limited summit relief for most sectors.

- Security & Geopolitics: Post-Brexit, the Russian invasion of Ukraine and US policy shifts under Trump highlight the need for UK-EU collaboration.

- Future Relations: Corbett sees the summit as a mindset shift, paving the way for deeper UK-EU ties, potentially rejoining the EU by 2033.

Corbett also discusses Margaret Thatcher’s European stance, the summit’s “reset” terminology, and possible future Labour representation in the European Parliament. A must-listen for insights into UK-EU relations and global trade dynamics.

Margaret Thatcher clips: © UK Parliamentary Recording Unit, All rights reserved

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*Disclaimer: This podcast is simply for informational and entertainment purposes only and does not in way constitute legal, business, financial or other advice whatsoever. Should you require advice then please seek such from an appropriately qualified professional, explaining your specific circumstances.

Chapters

1. Introduction to Richard Corbett (00:00:00)

2. Brexit Referendum Reflections (00:02:13)

3. UK-EU Reset Summit Explained (00:04:30)

4. Trading Barriers / Red Tape / Summit implications (00:06:00)

5. Thatcher's European Vision (00:19:34)

6. UK-EU Relations and Future Outlook (00:22:16)

7. Closing Thoughts (00:27:45)